. The present rates of tax applicable to the respective pay slabs enumerated in entry 1 of the schedule I appended to the Act are as under; Salary and wage earners- Such persons whose monthly salaries or wages,-
(a) do not exceed rupees 2000. Nil
(b) exceeds rupees 2000 but do not exceed 30 per month
(c) exceeds rupees 2500 but do not exceed 60 per month
(d) exceeds rupees 3500 but do not exceed 120 per month
(e) exceeds rupees 5000 but do not exceed 175 per month
(f) exceeds rupees 10000. 2500 per annum.
to be paid in the following
(a)rupees 200 per month except in the month of February;
(b)rupees 300 for the month of February.
Salary or wages includes pay or wages, dearness allowance and all other remunerations received by any person on regular basis, whether payable in cash or kind, and also includes perquisites and profits in lieu of salary, as defined in section 17 of the Income Tax Act, 1961, but does not include bonus in any form and on any account or gratuity.
From India, Pune